South Florida’s luxury housing market posted strong gains during the second quarter of 2026, with high-end home and condominium sales climbing sharply across the region, according to the latest Luxury Market Report from The Keyes Company and Illustrated Properties.
Luxury single-family home sales across Miami-Dade, Broward, Palm Beach, the Treasure Coast and Southwest Florida increased 20.1% year over year to 8,013 transactions, while luxury condominium sales rose 23.5% to 2,590 closings. The report found that the increase in activity came without widespread price reductions, signaling continued confidence among affluent buyers.
The average luxury single-family home sold for $2.63 million during the quarter, up 7.2% from a year ago. Luxury condominium prices remained relatively stable, increasing 0.3% to an average of $2.37 million.
Miami-Dade County led the region in price growth, with luxury single-family sales surging 32.5% to 1,000 transactions and the average sale price jumping nearly 22% to $3.61 million. Broward County recorded a 17.1% increase in million-dollar home sales, while Palm Beach County posted a 24.2% gain. Luxury condo sales also rose significantly in Broward and Palm Beach counties.
Despite national headlines suggesting an influx of wealthy Californians relocating to Florida, Christina Pappas, president of Keyes and Illustrated Properties, said the firm’s data tells a different story. The top states sending luxury buyers to South Florida remained New York, Illinois, Michigan, New Jersey and Ohio, continuing a trend that has persisted for years.
Looking ahead, CEO Mike Pappas said South Florida’s combination of lifestyle, stability and long-term value continues to attract affluent buyers despite broader uncertainty in the national housing market.
